Renault, Nissan urge legal action against Ghosn for expenses
The Associated Press
June 04, 2019 09:55 PM
This Nov. 20, 2018, photo shows the logos of Nissan Motor Co. and Renault at car dealerships in Kawaguchi, north of Tokyo. Japanese automaker Nissan wasn’t consulted about a proposed merger between its French alliance partner Renault and Fiat Chrysler and has little say over the issue. Partnering with a colossal Renault-Fiat Chrysler could help Nissan slash costs on shared components and research.
Kyodo News via AP
Renault says an internal audit with partner Nissan found 11 million euros in questionable expenses at their Dutch-based holding allegedly linked to ousted chief Carlos Ghosn.
In a statement Tuesday night, the French carmaker recommended joint Renault-Nissan legal action in the Netherlands, where the alliance is based. It suggested ordering Ghosn himself to reimburse the company for some of the expenses.
The audit of joint company RNBV found deficiencies “in terms of financial transparency and procedures for monitoring expenditure,” the statement said. It noted questionable expenses for Ghosn’s air travel, personal spending and donations to nonprofit organizations.
Ghosn is facing accusations of financial misconduct in Japan, which he denies and says are politically driven by enemies at Nissan. Ghosn was credited with leading Renault’s rescue of Nissan from near bankruptcy.
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